Greece’s Finance Minister Christos Staikouras has just announced the new measures to support the country’s economy in the wake of the coronavirus outbreak. Among the sectors to be supported, Greece tourism has suffered the most tremendous blow early on in the equation. According to GTP, the country’s latest set of support measures concerned all Greek businesses and workers.
According to the minister, the government is planning to group a series of interventions for the tourism sector, businesses and workers also included in the measures previously announced. Mr. Staikouras went on to explain how the government’s next package of measures will specifically focus on Greece tourism, but also suggested “more targeted action is needed in this direction.”
Minister Staikouras said that the government is examining the situation of the hotels in Athens, which have not closed but have a very large reduction in turnover. Announcements should be made in the coming days, he mentioned. According to Staikouras, travel agencies are to receive support, as well.
In other news, Greece expects lower borrowing costs on account of a an emergency assets purchases’ programme launched by the European Central Bank (ECB). The bank just launched new bond purchases worth 750 billion euros ($816.90 billion) at an emergency meeting late on Wednesday to stop a pandemic-induced financial rout from shredding the euro zone’s economy and renew concerns about the bloc’s viability.
According to the news from Reuters, Greece will be included in the program for the first time since the country was shut out of previous ECB buys because of its low credit rating. Staikouras told reporters the decision made about 12 billion euros in Greek government debt eligible for inclusion.